Rensselaer Republican, Volume 24, Number 12, Rensselaer, Jasper County, 19 November 1891 — The Mistake of the Peoples’ Party. [ARTICLE]

The Mistake of the Peoples’ Party.

All this kicking on National banks is the sheerest kind of nm sense and for political effect only. The Alliance demands that . the government loan them money as two per cent. They also claim j that the government loans money ] to National banks at one per cent | Any five or more men can start a National bank; Alien why should j the Alliance demand money at two I per cent, when according to its ! own argument it can be had at one percent.? There is not a school district in Miami county which cannot raise sufficient capital to start a National bank. Then why don’t the Alliance start National banks and get money at- one percent. Therais no use waiting years to get money at two per cent, when it can, if this argument is true, be had at once at only one per cent.--Macy Monitor.

Sure enough, why don’t it? There are two People’s party men in Jordan tp., and one in Carpenter whose combined wealth, alone, would be sufficient capital for a National bank.

Another very pertinent fact in this connection, that may be added to the above, and one that proves beyond the possibility of denial the falseness of the claim that the government loans money to the National banks at a very low interest, or that those institutions are such exceedingly profitable affairs as greenbackers aud People’s paity adherents have been claiming for the last quarter. century, is that the circulation of the of the national bank has been steadily declining for so many years, until now, instead of being up to the authorized amount of 400 millions of dollars, it is only about 125 millions. That it has thus declined we do not think that even People’s Party people will dispute, for the matter was touched upon at considerable length by Senator Peffer, iu his speech at Rensselaer last August, aud he not not only stated the fact of the great decrease in givekim the credit of not taking *the usual erronious fiat money view of the National bant system, for instend of abusing them and demanding their destruction he wanted to see their number and circulation increased to the full limit of the law.